Aramco, French companies sign agreements

Aramco, French companies sign agreements

DHAHRAN — The Saudi Arabian Oil Company (Saudi Aramco) Saturday announced the signing of five agreements with leading French companies, including an agreement to explore a hydrogen-powered vehicle business with Gaussin, a pioneer in clean and intelligent transport solutions. Signing of the agreements took place during an event in Jeddah, organized by the Ministry of Investment to explore investment opportunities for French companies in Saudi Arabia. The event was attended by Minister of Investment Khalid Al Falih and Minister Delegate for Foreign Trade and Economic Attractiveness of France Franck Riester along with Aramco President and CEO Amin H. Nasser. Nasser said: “This partnership is a continuation of Aramco’s long-standing relationship with a number of leading French companies. It represents an opportunity to promote hydrogen as a low-carbon solution, not just for motorsport, but eventually for mass transportation as well. “Such collaboration helps us to advance economic growth in the Kingdom as part of the Namaat industrial investment program and takes us a step closer to our shared vision of a more sustainable future.” The agreement between Aramco and Gaussin aims to establish a modern manufacturing facility for on-road and off-road hydrogen powered vehicles in Saudi Arabia. As a first step,